By Steve St. AngeloEnjoy the good times while you can because when the economy BLOWS UP this next time, there is no plan B. Sure, we could see massive monetary printing by Central Banks to continue the madness a bit longer after the market crashes, but this won't be a long-term solution. Rather, the U.S. and global economies will contract to a level we have never experienced before. We are...Read More
- Critical hardware flaw breaks basic security: risks to online banking & digital assets- Nearly all computers worldwide, smartphones and other devices - exposed to major security risk- Two separate security flaws identified in devices powered by Intel, ARM and AMD chips- Vulnerability known about for six months by tech insiders- Cyber crime represents the biggest transfer of economic wealth in hi...Read More
By Avi GilburtFirst published on Sunday Dec 31 for members: While I am unable to answer the question in the title of this update definitively, I will show you what the market has to do in order to answer the question in the affirmative. But, first I want to reflect on 2017. We approached 2017 with high expectations that the market would provide us with a strong 3rd wave break out off the 2...Read More
By George SmithI'm sure there will be some shocking events in 2018, but I have no idea what they will be. There are too many wildcards in the mix, with one big one taking center stage: States. The civilized world, such as it was, took a nosedive after the Sarajevo assassinations in 1914 ignited the political tinderbox in Europe. To pay for the massive slaughter that followed, states aban...Read More
Domestic flat steel prices in Argentina increased for the second consecutive month in January.Metal Bulletin's monthly price assessment of Argentina's domestic hot-rolled coil (HRC) reached $720-735 per tonne ex-works on Friday January 5, compared with $705-725 per tonne ex-works in the previous month.Prices for cold-rolled coil (CRC) rose to $840-845, from $825-835, and hot-dipped galvanized coil...Read More
Scarce supply in global scrap markets pushed up import prices to both India and Taiwan in the working week from Monday January 1 to Friday January 5, while market activity has remained low in the bellwether Turkish market.Turkey importsNo deals were concluded by Turkish mills for imported bulk scrap cargoes during the week, with many suppliers still on holiday until next week.Turkish steel mills w...Read More
Prices for shredded and HMS grades of steel scrap imported in containers into India soared upward this week, with the country's domestic finished steel markets enjoying a strong start to the year.Metal Bulletin's index for Indian imported shredded scrap rose to $374.09 per tonne cfr Nhava Sheva on Friday January 5, up by $22.61 per tonne from the $351.48 per tonne cfr recorded on December 22.The l...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More
The latest metal markets news and price moves to start the North American day on Friday January 5.Base metals prices on the London Metal Exchange mostly stepped slightly lower during morning trading but are generally consolidating at higher levels.Aluminium fell $12.50 but is still in a strong position, with supply-side reforms in China continuing to burnish its underlying fundamentals. The three-...Read More
Good morning from Metal Bulletin's offices in Asia, bringing the key news and market stories on Friday January 5. SHFE copper prices retreated in Asian morning trading on Friday January 5 after surging in the previous afternoon's session, as the market awaits US payroll numbers due out tonight.Check Metal Bulletin's live futures report here. LME snapshot at 0232 London timeLatest 3M LME Pric...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metals Two trading companies have accepted Nornickel's $300 per tonne nickel premium for 2018, while the majority of Nornickel's long-term contract premium negotiations cif China are still in the air. Striking workers at Empresa Nacional de Mineria's (Enami's) copper smelter in Chile...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Iron ore prices started 2018 on a rise, gaining further ground on Friday January 5 to $76.80 per tonne cfr Qingdao despite the Chinese steel market retreating again.There was barely any movement in the seaborne coking coal market amid a lack of indicative and firm bids, with buyers still trying to figur...Read More
Steel exports from the Middle East, CIS and India are expected to be the main price setters in Asia in 2018, as production cuts in China over most of the first quarter leave a gaping hole for them to continue to wrestle their way in.Steelmakers in India, Turkey and the Middle East will likely find it easier to raise their offers this year due to Chinese steel products losing their competitiveness,...Read More
Base metals prices on the London Metal Exchange closed mostly lower on Friday January 5 although tin bucked the trend.The three-month copper price ended $67.50 lower back below $7,200 per tonne at a one-week low. "The complex may have reached slightly overbought levels, however, and most of the positive catalysts may have been priced in," Metal Bulletin analyst Andy Farida said. "It would not surp...Read More
The massive waves recorded in London Metal Exchange copper stocks could subside in 2018, with the big bull buying up tonnage to meet the coming year's commitments and deliveries from the bears to the exchange expected to return to their normal pace seen before 2016. The battle between two major trading houses that played out in the LME copper warehouses began in 2016, causing prices to rise and fa...Read More
Iron ore prices edged up and remained above $76 per tonne cfr China on Friday January 5 despite a further retreat in Chinese steel prices.Metal Bulletin's 62% Fe Iron Ore Index Today: $76.80 per tonne cfr QingdaoDaily change: up by $0.26 per tonneMonth-to-date average: $75.76 per tonneMetal Bulletin's 58% Fe Premium Index Today: $62.32...Read More
Gold is back on everyone's list as a must-have investment this year, and one of the best ways to profit from rising gold prices is to invest in gold mining stocks.Gold prices are up 6.3% since hitting a five-month low on Dec. 12. And this gold price rally is only just beginning.Money Morning Resource Specialist Peter Krauth predicts we are entering a gold bull market that could last until 2020, a...Read More
For over 40 years, legendary resource investor Rick Rule has followed one simple formula for producing astounding gains….That includes 6,100% on Silver Standard, 7,900% on Lumina Copper, and an astronomical 99,900% windfall on Paladin Energy."It's very simple," says Rule. "I look for commodities where demand is assured over time and where it's being sold in the market for less than the cost...Read More
Global plug-in electric vehicle (PEV) sales hit 1 million units in 2017, according to a report from Navigant Research.Sales revenues of such vehicles have increased by over 40% every year since the launch in 2011 and it is expected maintain a 38% growth rate in 2020, the reported noted.“Battery costs have dropped dramatically over the past five years and they will continue to go down with th...Read More
Global plug-in electric vehicle (PEV) sales hit 1 million units in 2017, according to a report from Navigant Research.Sales revenues of such vehicles have increased by over 40% every year since the launch in 2011 and it is expected maintain a 38% growth rate in 2020, the reported noted.“Battery costs have dropped dramatically over the past five years and they will continue to go down with th...Read More